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Resource Transfers to the Elderly: Do Adult Children Substitute Financial Transfers for Time Transfers?

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Author Info
Julie Zissimopoulos

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Abstract

Using the Health and Retirement Study, this research investigates whether an adult child substitutes financial transfers to an elderly parent for time transfers as the cost of his or her time increases. The author develops and estimates a model of the effect of a child's wage rate on time and money transferred to an elderly parent. She then calculates a wage elasticity and studies how this varies with the existence of substitutes such as siblings and a spouse, and how this varies by sex of the child. The results show that an adult child will substitute money for time. Furthermore, the author finds that for a male child, a spouse is a substitute helper for elderly parents and that for a female child a spouse is a complementary helper while siblings serve as substitutes.

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Paper provided by RAND Corporation Publications Department in its series Working Papers with number 01-05.

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Length: 32 pages
Date of creation: Mar 2001
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Handle: RePEc:ran:wpaper:01-05

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  21. Pezzin, Liliana E & Schone, Barbara Steinberg, 1997. "The Allocation of Resources in Intergenerational Households: Adult Children and Their Elderly Parents," American Economic Review, American Economic Association, vol. 87(2), pages 460-64, May. [Downloadable!] (restricted)
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